How Smart Safes Benefit Restaurant Owners

As the owner of a restaurant or bar, payment solutions, merchant processing, and other ways of saving money or driving sales are always at the top of your mind. After all, you’re in an industry that requires lots of human labor, extensive logistics, and in general, moderate profit margins on most of your menu and offerings.

There just isn’t a lot of room for waste or loss if you plan on growing and doing more business month over month and year over year.

That’s why smart safes are such a good idea for restaurants and bars. Regardless of your current cash handling policies, the size of your staff, or the amount of business that you do, we at Monify believe a smart safe can save you money.

In today’s blog, we talk specifically about how an Armor brand smart safe can save you time, money, and mitigate risk and loss for your operation, allowing you to spend your time, energy, and money on what matters most — moving your business forward.

Improves Time-Efficiency

Cash handling at your restaurant or bar is probably a pretty time-consuming process. If it isn’t, and you aren’t using a smart safe, then chances are pretty good that you are experiencing loss right now and don’t even know it.

Between counting and preparing a drawer, verifying and accepting a drawer, regular cash drops, and maintaining a safe process for who has access to what, you might be investing multiple hours of an employee and/or manager into your cash handling processes.

Even in a world where debit and credit transactions are more common than cash, protecting the cash that changes hands at your business is still important for your bottom line.

A smart safe can go a long way in helping to reduce the amount of time that is spent counting transactions and cash drops on both ends as the safe itself is able to count and provide a record of any and all money deposited. That time can be spent checking on customers, taking payments, or pouring another round.

Improves Count Accuracy

When it comes to counts that are taken when removing or depositing money into your smart safes, your count accuracy will improve drastically.

That’s because your smart safe does a lot more than just keep your cash locked up tight and safe, it also utilizes state-of-the-art money tracking and counting software to ensure accurate counts and records for your business.

With casino-quality bill validators and elite counterfeit detection, you’ll have no more inaccurate counts from tired employees, overworked managers covering shifts, or due to interruptions as situations in the dining room or kitchen arise.

Protects Your Restaurant From Theft

A safe protects your business — especially a restaurant or bar, where cash is still a pretty regularly used form of payment — from thieves, be they internally employed or external to your business.

As sad as it is, business owners may lose as much as 5% of their annual revenue to loss and abuse from employees. Unprotected cash, poor accuracy in counts, and loose cash handling practices are easy targets for thieves, and they are all problems that a smart safe helps to address.

Provides Total Transparency

Armor smart safes also provide complete transparency. Every transaction is tracked through the use of a personal identification number (PIN) that is assigned to each employee who will use the smart safe. This creates a traceable audit for every single deposit and withdrawal amount.

So even if there are issues or questions that arise around cash handling, you have access to all kinds of on-the-spot printable reports, allowing you to keep real-time tabs on what is going on with your cash.

Provides A High Level Of Customization

A smart safe from Armor also allows you to customize who uses your safe, and how they use it. From the business owner to employees-in-training, up to 10 different permissions sets can be assigned to your restaurant’s smart safe.